The Securities and Exchange Commission announces that investors who were defrauded by the cherry-picking scheme involving K.W. Brown will receive nearly $6 million from the SEC created Fair Fund. Specifically, on April 22, 2011, the Court appointed distribution agent dispersed more than $5.88 million to defrauded investors. The distribution agent sent checks to more than a 1,000 investor accounts in 22 states and Canada. This multi-million dollar distribution means that defrauded investors will get back more than 60% of the funds they lost from the fraudulent cherry-picking scheme.
Read Full Article at SEC.gov